Minnesota Legislature
SF 2516
as introduced - 93rd Legislature (2023 - 2024) Posted on 03/07/2023 07:50am
Current Version - as introduced
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A bill for an act
relating to taxation; sales and use; modifying the Avon local sales tax authority;
amending Laws 2019, First Special Session chapter 6, article 6, section 13,
subdivisions 3, 4, by adding a subdivision.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
Laws 2019, First Special Session chapter 6, article 6, section 13, is amended
by adding a subdivision to read:
new text begin Subd. 1a. new text end
new text begin Sales and use tax authorization; modification. new text end
new text begin
Notwithstanding Minnesota
Statutes, section 297A.99, subdivision 3, paragraph (d), or 477A.016, or any other law,
ordinance, or city charter, the modifications to bonding authority in subdivision 3 and the
amount of tax that may be collected before the termination of taxes in subdivision 4 are
effective if approved by the voters at a general election conducted within the two-year period
after this section becomes effective.
new text end
new text begin EFFECTIVE DATE. new text end
new text begin
This section is effective the day after the governing body of the
city of Avon and its chief clerical officer comply with Minnesota Statutes, section 645.021,
subdivisions 2 and 3.
new text end
Sec. 2.
Laws 2019, First Special Session chapter 6, article 6, section 13, subdivision 3, is
amended to read:
Subd. 3.
Bonding authority.
(a) The city may issue bonds under Minnesota Statutes,
chapter 475, to pay the costs of the projects authorized in subdivision 2. The aggregate
principal amount of bonds issued under this subdivision may not exceed deleted text begin $1,500,000deleted text end new text begin
$8,135,000new text end plus an amount to be applied to the payment of the costs of issuing the bonds.
The bonds may be paid from or secured by any funds available to the city, including the
tax authorized under subdivision 1. The issuance of bonds under this subdivision is not
subject to Minnesota Statutes, sections 275.60 and 275.61.
(b) The bonds are not included in computing any debt limitation applicable to the city,
and any levy of taxes under Minnesota Statutes, section 475.61, to pay principal and interest
on the bonds is not subject to any levy limitation. A separate election to approve the bonds
under Minnesota Statutes, section 475.58, is not required.
new text begin EFFECTIVE DATE. new text end
new text begin
This section is effective the day after the governing body of the
city and its chief clerical officer comply with Minnesota Statutes, section 645.021,
subdivisions 2 and 3.
new text end
Sec. 3.
Laws 2019, First Special Session chapter 6, article 6, section 13, subdivision 4, is
amended to read:
Subd. 4.
Termination of taxes.
(a) The tax imposed under subdivision 1 expires at the
earlier of: (1) December 31, 2045; or (2) when the city council determines that deleted text begin $1,500,000deleted text end new text begin
$8,135,000new text end has been received from the tax to pay for the cost of the projects authorized
under subdivision 2, plus an amount sufficient to pay the costs related to issuance of the
bonds authorized under subdivision 3, including interest on the bonds.
(b) Any funds remaining after payment of all such costs and retirement or redemption
of the bonds shall be placed in the general fund of the city. The tax imposed under subdivision
1 may expire at an earlier time if the city so determines by ordinance.
new text begin EFFECTIVE DATE. new text end
new text begin
This section is effective the day after the governing body of the
city and its chief clerical officer comply with Minnesota Statutes, section 645.021,
subdivisions 2 and 3.
new text end